Himalayan Bank Limited reports almost 7% increase in net profits for the first quarter; deposits and loans increase by more than 5%

Himalayan Bank Limited (HBL) has reported a rise in the net profit for the first quarter of the fiscal year 2076/77. As per the quarterly report published today, the net profit has increased by 6.86% in the fiscal year.

The bank’s profit has increased from Rs.64.96 Crore in the first quarter of the fiscal year 2075/76 to Rs.69.42 Crore in the first quarter of the fiscal year 2076/77. In the first quarter of the FY 2076/77, the bank had Rs.19.88 Crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.

The bank’s deposit has growth rate of 5.57% to Rs.1.15 Kharba and loans and advances have also increased by 5.40% to Rs.97.70 Arba in the first quarter.

The net interest income of the bank has slightly increased to Rs.1.3188 Arba from Rs.1.3128 Arba of the corresponding quarter in the previous year.

The bank’s paid up capital stands at Rs.8.52 Arba with Rs.5.79 Arba as its reserve as of the end of Q1 of FY 2076/77. The Non-Performing Loan (NPL) has decreased to 1.16% from 1.46%.

In the first quarter, the EPS of the bank stands at Rs.32.59. The net worth per share stands at Rs.195.83 and the PE ratio at 15.40 times.